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Politics of Monetary Cooperation Essay Example

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Politics of Monetary Cooperation

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Politics of Monetary Cooperation. The policies affect the movements of money from one economy to the other. The developments of the policies are by political powers that tend to control the whole process of policymaking. The interference of exchange rate cooperation by political bodies is what Kathleen explains as neoliberal consensus since the making of the policies revolves around interpretations of shared ideas political individuals. They make policies in exchange rate cooperation without engaging the trends of trade and capital flows around the globe. Trade and capital flow across the globe determine the type of exchange rate cooperation that needs to be applied in an economy. Moreover, trading activities and capital flows give exchange rate cooperation across the world an opportunity for growth.

The growth of exchange rate cooperation decreases since it is affected negatively by poor policies made by political powers insulating the growth of exchange rate. Therefore, for the growth exchange rate, cooperation political interference withdraws to allow trade and capital flow to grow. This has a positive impact to exchange rate cooperation since poor political policies are not developed. On the other hand, Beth A. Simmons, in the book, who argues that deductive models theories based on sophisticated economic models and abstraction explains the dynamics of exchange rate cooperation, especially in the world wars. Moreover, monetary instability, economic nationalism, and commercial collapse are the main effects to the lack of exchange rate cooperation across the globe (Beth 3). Martin Feldstein, the former chairperson of the council of economic advisers (CEA), support Beth’s arguments based on the observations of G7 on international monetary cooperation. He published a series of articles and made speeches on the practice of international monetary coordination criticizing exchange rate cooperation for the following reasons. Politics of Monetary Cooperation.

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